12:25 PM EST, 12/05/2024 (MT Newswires) -- Damon (DMN) said Thursday it has appointed Damon cofounder Dominique Kwong as interim chief executive officer, succeeding Jay Giraud.

Kwong previously served as chief technology officer and subsequently as chief operating officer of the company.

The motorcycle manufacturer gave no reason for the management shakeup, which also involves independent director Shashi Tripathi becoming chairman of the board. Tripathi is currently the CEO of Sleepiz USA.

Shares of the company were down nearly 11% in recent trading.

Price: 0.92, Change: -0.11, Percent Change: -10.68